According to research completed by Ambition, a global recruitment firm, job vacancies in London may shortly be filled by keen Australian expats.
In the past few months job vacancies in London have risen dramatically and the proliferation of roles in the finance sector has attracted expatriates from all over the world.
According to Ambition, Australian professionals are among some of the people who are attracted to London. In a poll of 800 financiers in Australia, 75% revealed that they would be keen to relocate to London within the next three years.
Why is London so Attractive?
According to the survey results many Australians (85%) are attracted to London because it offers an ideal base from which to travel and explore Europe. Of those surveyed by Ambition 56% said that they felt that London would offer them long-term career benefits and 44% said that they believed that suitable job opportunities were more widely available in London than they were in their home city. While many respondents said that they were attracted to London by the earning potential in the city, 63% also claimed that the cost of living there did act as a major deterrent.
Discussing the survey results Simon Lynch, Managing Director of Ambition UK said: “It’s been widely reported that there was an exodus of overseas talent during the recession as staff were made redundant, sterling weakened against other foreign currencies, and people’s earning potential diminished.
“The UK economy was not being cast in the best light by the international media either and this had a significant impact on the number of people considering a move to London.
“However, it’s clear that confidence in the London jobs market is picking up and that is a very good thing. There has been a significant skills gap in the City following the downturn and quality overseas candidates will help fill that gap and drive the economy forward.”